Moderna Stock Gains as Melanoma Vaccine Results De-Risk Approach

Dow Jones00:59

1259 ET - Moderna's finding that the mRNA-based vaccine it made with Merck successfully prevented cancer from spreading or returning in melanoma patients is "a big de-risking event for its personalized therapy approach," Wolfe Research analysts write in a note, upgrading the stock to peer perform from underperform. The market's ebullient response may suggest that some traders misunderstood the vaccine as a preventative treatment, they write, and Moderna may still not reach profitability until 2030. Still, the recent data, as well as Moderna's cost-cutting efforts and its patent litigation settlement with Arbutus Biopharma and Genevant Sciences GmbH, lead to a balanced risk/reward at the stock's current levels, the analysts write. Moderna's stock gains 14% to $158.10 and has nearly tripled in value over the past month.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment